TOKYO, Oct 3: The Bank of Japan (BoJ) will this month cut its forecast for both economic growth and inflation amid a slowdown in the global economy and cheaper commodities, a leading newspaper said Saturday.
The central bank will unveil the downward revisions in its biannual outlook for economic activity and prices report due out October 30, the Nikkei business daily said.
BoJ policymakers will downgrade the forecast for economic growth to around one per cent from 1.7 per cent for the current fiscal year to March 2016, the daily said. It added that the following fiscal year's growth estimate would also be lowered from 1.5 per cent, but did not give details. The Nihon Keizai Shimbun -- or Nikkei daily, which recently bought the Financial Times for $1.3 billion -- has a track record of financial scoops and is considered a must-read for executives.
With China and other emerging markets slowing, the global economy is seen expanding by only about three per cent this year, with little hope of a quick improvement in 2016, it said. Japanese business investment, consumer spending and other economic activity is holding up well in the Bank's view, but it forecasts that domestic growth may fall somewhat short of expectations, it added.    ?AFP